CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. O-26-21 ENACTMENT NO.
SPONSORED BY: Brook Bassan
ORDINANCE
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Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Municipal Infrastructure Gross Receipts Tax Improvement Revenue Bonds, Series 2026 For The Purpose Of (1) Financing The Cost Of Designing, Developing, Constructing, Reconstructing, Rehabilitating, Renovating, Modernizing, Signing, Enhancing And Otherwise Improving Community Enhancement Projects For The Benefit Of The City, (2) Funding The Capitalized Interest Fund And Debt Service Reserve Fund, As Necessary, And (3) Paying Expenses Related To Issuance Of The Bonds; Providing For The Payment Of The Series 2026 Bonds From Fifty Percent (50%) Of The Revenues Of A 0.4875% Municipal Gross Receipts Tax; Approving The Delegation Of Authority To Make Certain Determinations Regarding The Sale Of The Series 2026 Bonds Pursuant To The Supplemental Public Securities Act; Providing For The Terms And Other Details Concerning The Series 2026 Bonds; Providing For Certain Documents Pertaining To The Series 2026 Bonds; Ratifying Action Previously Taken; Repealing All Actions Inconsistent With This Ordinance; Authorizing The Taking Of Other Actions In Connection With The Issue And Sale Of The Series 2026 Bonds (Bassan)
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Capitalized terms used in the following preambles are defined in Section 1 of this Bond Ordinance, unless the context requires otherwise.
WHEREAS, the City is a legally and regularly created, established, organized and existing municipal corporation under the general laws of the State and its home rule charter; and
WHEREAS, the City has Home Rule Powers; and
WHEREAS, pursuant to Section 7-19D-9, NMSA 1978 and City Ordinance No. O-26-_____, Enactment No. 2026-_____ adopted on March 16, 2026, the City has imposed a 0.4875% Municipal Gross Receipts Tax; and
WHEREAS, pursuant to Sectio...
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